If you have an online store, or are thinking about opening a business, you will know how important payment platforms are to charge for the products you sell to your customers. Even more relevant is choosing the right payment method to achieve a unique user experience and generate trust among the public.
Today we are not going to talk about the reasons why you should have an eCommerce, or what the best payment methods are. We are going to focus on the growth of online shops during the pandemic and how to start receiving link payments on your website.
Are you ready to find out?
The eCommerce situation during the Covid-19 pandemic
Of course, talking about the situation of e-commerce requires a geographical x-ray on a global scale. Its status is not the same in some countries as in others, but we are going to focus on Spain, where the intention to buy online has grown after the coronavirus.
Despite the health and economic consequences, this crisis has also brought some positive data, however difficult it may seem. Without going any further, the pandemic has driven the digital transformation of companies, which is increasing online shopping in the country. As ReasonWhy points out, "7% of Spanish consumers will continue to rely on e-commerce" and "43% of consumers in twenty different product categories claim that they were shopping online before the health emergency."
There is no doubt that Covid-19 has also had its negative consequences on e-commerce, such as the reduction in sales, but it is gradually gaining ground and becoming the main economic alternative in times of crisis. The closure of physical businesses and lockdown have boosted online sales, expanding the scope of business, reducing costs and avoiding losses, among other things.
Across the Atlantic, in Latin American countries, studies such as Merchant Machine show that "Mexico is the second fastest growing country in eCommerce in the world." And within this growth, we want to emphasise the importance of offering diverse and appropriate payment methods to the public to which each business is targeted.
What is payment by link?
It's much more than a payment method. We are living through times of transition and it is the ideal time to renew and reflect on the value we are delivering to our clients. The pandemic is forcing us to change our consumption habits, leading shops to update their sales habits as well. Even more so if we take into consideration that when someone tries to pay for a product or service online, but the payment cannot be made, almost 30% of users leave the shopping cart, while half choose a different payment method. Hence the importance of offering a cascading system.
Pay By Link has become a widely used link-based method that can be shared by email, SMS, messaging, social networks (Facebook, Twitter, Instagram, Pinterest) or any other communication platform. And it works very well for recovering abandoned shopping carts.
This payment solution allows you to create links to sell and accept payments, and you can charge your customers for their purchases easily, safely and instantly. In addition, it is very easy to integrate into your website and a very easy way to receive payments online.
Other payment methods for your business
Don't think that payment by link is the only alternative for your business. Payment methods are a crucial element for companies, especially for eCommerce, and these are some of them:
- Payment by email. Payments can be received by email. In fact, it's one of the easiest ways to receive payments without having a website. It's quick and easy and allows you to make a transfer no matter what country or currency you use. All you need is an email address.
- Payback. In this program you can accumulate points and use them, as well as make purchases in different places. If a user shows his payback wallet, it adds points. And each participating brand offers different offers and points, but you do not need to have different cards.
- Voice recognition. It allows you to accept payments using Interactive Voice Response (IVR). Customers in any business can implement this system in their payment gateway.
- Selfie pay. Paying with a selfie is possible and does not require a physical means of payment, such as a card, but users only need to download the corresponding app and register their personal data, the car and the image of their face.
Payment gateways allow you to centralise all these methods, without having to choose between them. As a result, eCommerce can increase conversion rate, ensure confidentiality and data protection, facilitate connection with consumers anywhere in the world, charge in a single integrated system, and achieve maximum availability for the user.
Advantages of using Pay-by-link
If you are thinking of using this payment method in your business, you'll know that you can benefit from some advantages:
- Although you can integrate it into your online shop, you don't even need to have one. You can create your payment link and send it to the customer in a matter of seconds.
- Easy and secure management of sales, being able to consult the ones made, cancelled, the status of each one of them, etc.
- Saving time by including links directly on your customers' invoices or quotes. Customers only have to click and will be redirected to a page from where they can manage their payment by card.
- You can track your sales online in real time and build trust through customisation.
Did you know that your customers' payments are just a click away? Would you like to include them in your online shop and do not know where to start?